CardFlight, the leading provider of mobile point of sale and mobile payment technology, published today the CardFlight EMV Migration Tracker.
The report includes new and never-before-published analysis of EMV chip cards being used in the United States since the October 1 liability shift.
While EMV chip card technology has been implemented in Europe for more than a decade, the rollout of EMV in the U.S is just beginning. The most visible milestone in this rollout came earlier this year with the October 1 liability shift, meaning that merchants who have not upgraded to accept EMV chip card transactions can become liable for counterfeit card fraud losses that occur at their stores with chip-enabled cards. This is an early step in an ongoing process that the Payments Security Task Force predicts will lead to 98 percent of U.S. credit and debit cards containing EMV chips by the end of 2017.
"Much has been written in the press about EMV chip cards, many U.S. cardholders have received cards with EMV chips on them, and many merchants have deployed EMV- ready payment terminals," said Derek Webster, Founder and CEO of CardFlight. "Very little hard data has been published about the real world use of EMV chip card technology in the U.S. Most published statistics rely on surveys, individual anecdotes or forecasts rather than real transactional data."
The analysis relies on data from actual cards in use, the so called "top of the wallet cards", and not plastics that are issued and never used. Data comes from hundreds of thousands of transactions processed through the CardFlight gateway by merchants in all 50 U.S. states, making it representative of the cards in use in the United States.
The CardFlight EMV Migration Tracker shows new data and insights, including:
- Over 50% of all cards in use now have EMV chips on them. From October to November, the percent grew 5% as banks and card issuers accelerated their rollout of new chip cards.
- Over 83% of American Express cards have EMV chips, while Discover lags at 40%
- Over 63% of the cards used in Hawaii have EMV chips, but Mississippi sees just 11% penetration of chip cards.